Business Insight From The Business Man

Category: Biotechnology

Marc Beer is the founder of Renovia Inc. Renovia will produce a few innovative products for pelvic floor disorders since closing a $32 million Series B round on Tuesday with $10 million venture debt. Renovia is a Boston based company that is creating several therapeutic and diagnostic products these products are created to help pelvic floor disorders such as urinary incontinence, which is estimated to affect 250 million females globally. Renovia’s first product to be reviewed is Leva. It was approved by the FDA in April.

The Early Investor

Renovia was invested in early by The Longwood Fund. The Longwood Fund is an investing firm focused on healthcare that joined the Series B round. The funding will be contributing to testing and development four additional therapeutic and diagnostic products, which includes an upgrade of the Leva device. Marc Beer says Renovia is excited to have the support of Longwood, who also care about the ability to better treat, improve and diagnose tons of women who are affected daily by pelvic floor issues. The addition of a digital health platform will provide the customers with valuable data to advise them on options for breakthrough treatments, better education and understanding of the pelvic floor issues as well as reduced healthcare costs over time.

About Marc Beer

Marc Beer has over 25 years of experience in biotech, pharmaceuticals, diagnostics and devices. He co-founded Renovia with Yolanda Lorie and Ramon Iglesias, MD in 2016. Renovia is the first thing Marc Beer created since he left Aegerion in 2015. He was there for five years and created a drug to aid an uncommon form of high cholesterol. The company is now a part of Novelion Theerapeutics, a Canadian company. The medicine Juxtapid was approved by the FDA and is an effective treatment. Marc was also a strategic advisor for OvaScience. This company has announced that it plans to merger with Millendo Therapeutics, a Michigan company. Learn more : https://www.slideshare.net/MarcBeer

Renovia Inc. is a startup organization that Marc Beer, Aegerion Pharmaceuticals’s former CEO co-founded. The organization will be going forward with various new products for disorders in the pelvic floor after its closing on Tuesday with a $32 million Series B round alongside $10 million in venture debt. The MedTech company which is located in Boston is creating several therapeutic and diagnostic products to fight pelvic floor disorders such as urinary incontinence. According to scholars, the urinary incontinence is affection over 250 million women across the world. The first product of Renovia received a FDA endorsement in April. A healthcare-focused investment company, the Lakewood Fund was the first to invest in Renovia, and it also joined the Series B round. Perceptive Advisors and Missouri-based Ascension Ventures found in New York was the leader of Series B round.

The funds from the event will be used in building and testing other four more diagnostic and therapeutic products as well as Leva device’s new generation. According to Beer, the CEO of Revonia, the company was happy that other leading investors in the healthcare sector were ready to support them. He went ahead to say that these were organizations that have the same vision as Renovia to better analyze, treat as well as enhance the lives of several women who are affected by pelvic floor disorders across the world. Bringing together their proprietary and innovative sensor technologies and create factors with a digital platform of healthcare will provide the company clients with valued data to update new options of treatment. Moreover, the clients will get informed concerning greater understanding and knowledge of pelvic floor disorders as well as the final lower long-term costs of healthcare.

Marc Beer also worked with OvaScience as its strategic consultant. OvaScience is a Waltham biotech firm that will be merging with Millendo Therapeutics. Marc Beer is the chairman, co-founder and CEO of Renovia Inc. Marc has been working in the commercialization and development areas of biotechnology, diagnostics, devices, and pharmaceuticals for over 25 years, an experience that is valuable to Renovia. Marc partnered with Ramon Iglesias and Yolanda Lorie in establishing Renovia in August 2016. The organization closed successfully a Series A financing with leading healthcare venture capital funds.

In October 2010, Marc managed to take the company public and its first product JUXTAPID got EDA approval in 2012 December. Marc Beer was also the board of directors’ founding chairman and Good Start Genetics, Inc.’s compensation committee chairman. Invitae acquired the company recently. Learn more : https://www.slideshare.net/MarcBeer